YTL Hospitality REIT’s Half-Year Revenue Rises 14% to RM276 Million & Distributable Income Increases 37% to RM79 Million Distribution of 4.1781 Sen per Unit Declared

Kuala Lumpur, Thursday 22 February 2024

YTL Hospitality REIT’s revenue rose 14% to RM276.1 million for the 6 months ended 31 December 2023 compared to RM242.4 million for the previous corresponding 6 months ended 31 December 2022. Net property income (NPI) increased to RM144.0 million for the half-year under review compared to RM124.4 million for the same period last year, whilst income available for distribution grew 37% to RM79.1 million this year compared to RM57.9 million for the same period last year.

Tan Sri (Sir) Francis Yeoh Sock Ping, Executive Chairman of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, said, “In the hotel segment, better performance of our Australian portfolio resulted from higher international arrivals and events held in Australia, improving average occupancy and daily room rates. In the property rental segment, the increase in revenue and NPI was contributed by the new Hotel Stripes Kuala Lumpur, acquired on 31 October 2023”.

The Board of Directors of Pintar Projek Sdn Bhd, the Manager of YTL Hospitality REIT, declared an interim distribution of 4.1781 sen per unit for the 6 months from 1 July 2023 to 31 December 2023, the book closure and payment dates for which are 7 March 2024 and 27 March 2024, respectively. The total income distribution amounts to RM71.2 million, representing approximately 90% of the total distributable income for the financial period ended 31 December 2023.

Comparison with Preceding Year Corresponding Period

 6 months ended
RM million
RM million
Distributable income79.157.9+37